Group 1: BYD Performance - BYD's August sales of new energy vehicles reached 373,600 units, nearly unchanged from 373,100 units in the same month last year [1] - Cumulative sales from January to August totaled 2.864 million units, representing a year-on-year growth of 23% [1] - BYD plans to export a total of 80,813 new energy vehicles by August 2025 [1] Group 2: Kweichow Moutai Shareholding - Kweichow Moutai's controlling shareholder, Moutai Group, increased its stake by 67,821 shares on September 1, 2025, accounting for 0.0054% of the total share capital [2] - The increase amounted to 100 million yuan and is part of a larger plan to buy back between 3 billion and 3.3 billion yuan worth of shares from September 1, 2025, to February 28, 2026 [2] Group 3: Chengdu Huamei Chip Development - Chengdu Huamei announced the successful launch of a 4-channel, 12-bit, 40G high-speed, high-precision RF direct sampling ADC chip [3] - The chip improves upon existing multi-channel high-speed ADCs, achieving international leading standards and filling a gap in similar products [3] - The company has received intention orders after sending samples to several clients [3] Group 4: Industrial Fulian Share Buyback - Industrial Fulian has repurchased a total of 7.6974 million shares, representing 0.04% of its total share capital, as of August 31, 2025 [6] - The highest repurchase price was 19.84 yuan per share, while the lowest was 18.40 yuan per share, with a total expenditure of 147 million yuan [6] Group 5: Innovative Drug Approval by Hengrui Medicine - Hengrui Medicine received conditional approval from the National Medical Products Administration for its innovative drug, SHR2554 tablets, aimed at adult patients with relapsed or refractory peripheral T-cell lymphoma [7] - This drug is noted as China's first independently developed EZH2 inhibitor [7] Group 6: Yonghui Supermarket Fundraising Adjustment - Yonghui Supermarket announced adjustments to its plan for issuing A-shares to specific investors, reducing the total fundraising amount from a maximum of 3.992 billion yuan to 3.114 billion yuan [8] - The adjustments primarily affect the funding amounts for store upgrades and working capital or bank loan repayments [8] Group 7: Automotive Sales Performance - SAIC Motor's vehicle sales in August reached 363,400 units, reflecting a year-on-year increase of 41.04% [9] - Great Wall Motors reported August sales of 115,600 units, marking a year-on-year growth of 22.33% [12] - Dong'an Power's engine sales in August increased by 3.44% year-on-year [12]

Core Viewpoint - Chengdu Huami (688709.SH) has successfully launched its HWD12B40GA4 model, a 4-channel, 12-bit, 40GSPS high-speed and high-precision RF direct sampling ADC, marking a significant technological breakthrough for the company [1] Group 1: Product Development - The HWD12B40GA4 ADC chip features a 4-channel design, 12-bit resolution, and a sampling rate of 40GSPS, enhancing the existing multi-channel high-speed ADC technology [1] - This chip fills a gap in both domestic and international markets for similar products, achieving internationally leading technical standards [1] - The chip supports KU band RF direct sampling and is applicable in various fields such as radar, commercial satellites, electronic countermeasures, wireless communication, high-end instruments, and drones, indicating a broad future application prospect [1] Group 2: Market Position and Future Plans - The successful launch of the HWD12B40GA4 ADC consolidates the company's leading position in the high-speed and high-precision ADC sector while expanding its product range and market space [1] - The company plans to continue pursuing technological breakthroughs to meet customer demands and promote the development of the domestic high-speed high-precision ADC industry [1]

Core Viewpoint - Chengdu Huawi (688709.SH) has successfully launched its HWD12B40GA4 model, a 4-channel, 12-bit, 40GSPS high-speed and high-precision RF direct sampling ADC, marking a significant technological breakthrough for the company [1] Group 1: Product Development - The HWD12B40GA4 ADC chip features a 4-channel design, 12-bit resolution, and a sampling rate of 40GSPS, enhancing the existing multi-channel high-speed ADC technology [1] - This chip fills a gap in both domestic and international markets for similar products, achieving internationally leading technical standards [1] - The chip is characterized by high integration, high performance, and high reliability, supporting KU band RF direct sampling [1] Group 2: Market Applications - The HWD12B40GA4 ADC can be widely used in various fields, including radar, commercial satellites, electronic countermeasures, wireless communications, high-end instruments, and drones, indicating a broad future application prospect [1] - The company has already sent samples of the chip to some customers and received intention orders, suggesting strong market interest [1] Group 3: Strategic Positioning - The successful launch of the HWD12B40GA4 consolidates the company's leading position in the high-speed and high-precision ADC sector while expanding its product range and market space [1] - The company aims to continue technological breakthroughs to meet customer demands and promote the development of the domestic high-speed high-precision ADC field [1]

Product Overview - The company has developed the HWD12B40GA4 model ADC chip, which is a 4-channel, 12-bit, 40GSPS high-speed and high-precision RF direct sampling ADC, representing a significant technological breakthrough [1] - This chip enhances sampling rate and bandwidth compared to existing products, filling a gap in both domestic and international markets, and achieving international leading technology levels [1] Technical Specifications - The chip supports configurable sampling rates of 24-40GSPS in 4-channel mode and 48-80GSPS in dual-channel mode, with an input analog bandwidth of up to 19GHz and a noise spectral density as low as -152dBFs/Hz [2] - It features a high spurious-free dynamic range of up to 18GHz in the Ku band, and is designed with high reliability [2] - The chip is fully designed in-house with complete intellectual property rights, having overcome key technical challenges and applied for multiple domestic and international invention patents [2] Market Applications - The chip supports Ku band RF direct sampling and is applicable in various fields such as radar, commercial satellites, electronic countermeasures, wireless communications, high-end instruments, and drones, indicating a broad future application prospect [2] - The company has already sent samples to some customers and received intention orders [2] Impact on the Company - The successful launch of the HWD12B40GA4 chip solidifies the company's leading position in the high-speed and high-precision ADC sector, expands its product line, and broadens market opportunities [2] - The company aims to continue technological breakthroughs to meet customer needs and promote the development of the domestic high-speed and high-precision ADC field [2]

证券代码：688709 证券简称：成都华微 公告编号：2025-029 成都华微电子科技股份有限公司 关于自愿披露发布 4 通道 12 位 40G 高速高 精度射频直采 ADC 芯片的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 成都华微电子科技股份有限公司（以下简称"公司"）研发的 4 通道 12 位 40G 高速高精度射频直采 ADC（模数转换器）于近日成功发布。现将相关事项 公告如下： 一、新产品的基本情况 公司研发的 HWD12B40GA4 型 ADC 芯片是一款 4 通道、分辨率 12 位、采 样速率 40GSPS 的多通道高速高精度射频直采 ADC，是公司在技术创新方面取 得的重大突破。该芯片是在公司已有的多通道高速高精度 ADC 基础上，进一步 提升了采样速率、带宽等技术指标，填补了国内外同类型产品的空白，达到国际 领先技术水平。 本款多通道射频直采 ADC 芯片 4 通道模式下支持采样率 24~40GSPS 可配置， 双通道模式下支持采样率 48~80GSPS 可配置。输入模拟带宽高达 19GHz， ...

Core Viewpoint - Chengdu Huami (688709.SH) has successfully launched its HWD12B40GA4 model, a 4-channel, 12-bit, 40GSPS high-speed and high-precision RF direct sampling ADC, marking a significant breakthrough in technological innovation and filling a gap in both domestic and international markets [1][2]. Group 1: Product Features - The HWD12B40GA4 ADC chip supports configurable sampling rates of 24-40GSPS in 4-channel mode and 48-80GSPS in dual-channel mode [2]. - It features an input analog bandwidth of up to 19GHz and a noise spectral density as low as -152dBFs/Hz, with a spurious-free dynamic range exceeding 54dB at an input frequency of 18GHz within the Ku band [2]. - The chip utilizes a 96-pair JESD204C high-speed serial interface and supports multi-channel synchronization both within and between chips, showcasing high reliability [2]. Group 2: Technological Advancements - The chip is designed with fully independent intellectual property rights and has overcome key technologies such as multi-channel RF direct sampling ADC architecture design, high-linearity dynamic amplifiers, and low-jitter clocks [2]. - Multiple domestic and international invention patents have been applied for related innovative technologies [2]. Group 3: Market Applications - The HWD12B40GA4 chip is suitable for various applications, including radar, commercial satellites, electronic countermeasures, wireless communications, high-end instruments, and drones, indicating a broad future application prospect [2]. - The chip has already been sampled to some customers, and there are existing intention orders [2].

人民财讯9月1日电，成都华微(688709)9月1日晚间公告，公司研发的4通道12位40G高速高精度射频直采 ADC(模数转换器)近日成功发布。该芯片具有高集成度、高性能、高可靠性的特点，支持KU波段射频 直采，可广泛用于雷达、商业卫星、电子对抗、无线通信、高端仪器仪表、无人机等多个领域，未来应 用前景广阔。目前该款芯片已向部分客户进行送样并已有意向订单。 ...

成都华微公告，公司研发的4通道12位40G高速高精度射频直采ADC（模数转换器）于近日成功发布。 该芯片是一款4通道、分辨率12位、采样速率40GSPS的多通道高速高精度射频直采ADC，填补了国内 外同类型产品的空白，达到国际领先技术水平。该芯片采用全自主正向设计，拥有完全自主知识产权， 突破了多通道射频直采ADC架构设计、高线性度动态放大器、低抖动时钟等关键技术，相关创新技术 申请了多项国内外发明专利。全部流片、封装工艺基于国内厂商，生产加工及供货可控。 ...

证券之星价投圈财报分析工具显示： 财报体检工具显示： 分析师工具显示：证券研究员普遍预期2025年业绩在3.6亿元，每股收益均值在0.57元。 业务评价：公司去年的ROIC为4.89%，资本回报率不强。然而去年的净利率为21.57%，算上全部 成本后，公司产品或服务的附加值高。从历史年报数据统计来看，公司上市以来中位数ROIC为 12.87%，投资回报也较好，其中最惨年份2019年的ROIC为-1.79%，投资回报极差。公司历史上的 财报相对良好（注：公司上市时间不满10年，上市时间越长财务均分参考意义越大。），公司上 市来已有年报0份，亏损年份1次，需要仔细研究下有无特殊原因。 商业模式：公司业绩主要依靠研发及资本开支驱动，还需重点关注公司资本开支项目是否划算以 及资本支出是否刚性面临资金压力。需要仔细研究这类驱动力背后的实际情况。 1. 建议关注公司现金流状况（近3年经营性现金流均值/流动负债仅为6.59%） 2. 建议关注公司应收账款状况（应收账款/利润已达981.33%） 3. 建议关注公司存货状况（存货/营收已达101.21%） 据证券之星公开数据整理，近期成都华微（688709）发布2025年中报 ...

Meeting Overview - The second meeting of the Supervisory Board of Chengdu Huamei Electronics Technology Co., Ltd. was held on August 27, 2025, with all three supervisors present, confirming the legality and validity of the meeting [1]. Resolutions Passed - The Supervisory Board approved the "2025 Half-Year Report and Summary," affirming that the report accurately reflects the company's situation and complies with relevant regulations [1]. - The resolution to cancel the Supervisory Board and amend the company’s articles of association was also approved, pending shareholder meeting review [2]. - The "Special Report on the Storage, Management, and Actual Use of Raised Funds for the First Half of 2025" was approved unanimously [2]. - The "Half-Year Risk Assessment Report from China Electronics Finance Co., Ltd." was approved, with one supervisor abstaining from the vote due to a conflict of interest [3].